Court Tax Ruling Eases
Governments' Fears

Write-Off Is Allowed
To Marks & Spencer,
But Not More Broadly

BRUSSELS &ndash; In a closely watched ruling, Europe's highest court gave British retailer Marks & Spencer PLC a big tax write-off but unexpectedly declined to extend the break to many other firms.

The judgment quelled fears of a revenue crisis among European governments, which were bracing for a loss of up to tens of billions of euros in future income and potential back-tax refunds after a court advisory opinion seemed to...